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    Home»Crypto Mining»BIT Mining ditches Kazakh data center due to rocky power supply
    Crypto Mining

    BIT Mining ditches Kazakh data center due to rocky power supply

    February 21, 2022By Forkast1 Min ReadNo Comments
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    BIT Mining, a Hong Kong-headquartered cryptocurrency miner, has terminated its data center construction in Kazakhstan due to an unstable local power supply, the company said in its quarterly report.

    Fast facts

    • BIT Mining now abandons a US$9.3 million pledge to a Kazakh data center announced last May.
    • The New York Stock Exchange-listed crypto miner said that its Bitcoin mining rigs deployed in third-party facilities in the Central Asian nation remain in operation.
    • BIT Mining’s withdrawal adds to the decreasing presence of Bitcoin miners in the second-largest hashrate in the world, presenting an opportunity for third-place Russia to claim the spot to trail the U.S.
    • In the fourth quarter of 2021, BIT Mining recorded US$495.8 million in total revenue, up 26.1% from US$393.1 million for the third quarter.
    • Its net loss shrank to US$8.8 million from US$29.6 million.
    Crypto Mining
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